Skai secures $252m sales for new four-star hotel
Skai Holdings, a Dubai-based real estate investment company, has secured Dhs927m ($252.4m) worth of sales for its new Dhs1.2bn four-star hotel, Suites in the Skai, in Dubai’s Jumeirah Village Circle, Trade Arabia has reported. Skai Holdings officially launched the project in June and has already sold all available hotel rooms and serviced apartments in the 60-storey tower. Construction on Suites in the Skai will begin in September 2014 with operations due to commence in 2017. China State Construction Engineering Corporation (Middle East) has been appointed the main contractor. Atkins has been appointed lead consultants and architects while Tokyo-based Nao Taniyama will design the interiors and Australia’s TOPO Design Studio the landscaping. Five-star hotel rooms account for around two thirds (64%) of Dubai’s total hotel inventory, significantly above that of other key cities around the world such as London (32%) and Singapore (33%), according to STR Global.